[Foundation-l] Corporate Social Responsibility

[Nathan]

On Mon, Nov 22, 2010 at 5:42 PM, <WJhonson at aol.com> wrote:

> In a message dated 11/22/2010 2:10:05 PM Pacific Standard Time,
> wikipedia at frontier.com writes:
>
>
> > They aren't - as a
> > member of the audit committee, I have full confidence that the Wikimedia
> > Foundation's tax reports are using the appropriate categories for
> > expenses.
>
>
> So auditing is now about confidence ?
> Something seems wrong with an audit committee who is trusting who they are
> auditing.  Isn't the very point of auditing, to not have trust and blind
> faith?
>
>
I think you misunderstood his point, even though it did not seem unclear.
It's perfectly reasonable for someone to have confidence in their own work,
which in this case is the work of the audit committee to determine the
completeness, accuracy and legal sufficiency of financial reporting.

Nathan